February NFT Marketplace Recap

In February, the NFT market experienced a rebirth that broke the deadlock of a long period of inertia, rising from the ashes of the destructive chaos that hallmarked the last few months. Galvanized by a series of stimuli, NFTs bucked the bleak macroeconomic trend clouding the outlook for risk assets by making a strong comeback.

In fact, the total NFT trading volume on Ethereum more than doubled to $1.5bn in February, indicating a 102.3% MoM increase. Above all, this major revitalization was catalyzed by the BLUR token airdrop, which prompted many traders to parlay their reaped rewards into additional NFT investments.*